16. Suppose that a June put option on a stock with a strike price of S60 costs $4 and is held until June. Under what circumstances will the holder of the option make a gain? Under what circumstances will the option be exercised? 2 pts Show all work and explain. Draw a diagram showing how the profit on a short position in the option depends on the stock price at the maturity of the option. (Ipt Bonus Point) A 25 10.25 20